Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An officer of an organisation who has a material personal interest in a matter that relates to the affairs of the organisation:
(a) must not be present during any deliberation by the organisation on the matter; and
(b) must not take part in any decision of the organisation with respect to the matter.
Civil penalty: 100 penalty units, or 1,200 penalty units for a serious contravention.
(2) An officer of a branch of an organisation who has a material personal interest in a matter that relates to the affairs of the branch:
(a) must not be present during any deliberation by the branch on the matter; and
(b) must not take part in any decision of the branch with respect to the matter.
Civil penalty: 100 penalty units, or 1,200 penalty units for a serious contravention.
(3) Subsections (1) and (2) do not apply if:
(a) subsection (4) allows the officer to be present and take part in a discussion with respect to the matter; or
(b) the interest does not need to be disclosed under section 293C.
(4) The officer may be present and take part in a decision with respect to the matter if members of the committee of management of the organisation or branch (as the case may be) who do not have a material personal interest in the matter have passed a resolution that:
(a) identifies the officer, the nature and extent of the officer's interest in the matter and its relation to the affairs of the organisation or branch; and
(b) states that those members are satisfied that the interest should not disqualify the officer from being present and taking part in a decision with respect to the matter.
Effect of contravention by officer
(5) A contravention by an officer of this section does not affect the validity of any act, transaction, agreement, instrument, resolution or other thing.